Evisort One of the First AI Companies in the World to Achieve Accredited ISO 42001 Responsible AI Certification

PRNewswire 1-Oct-2024 10:01 AM

New certification reinforces Evisort's leadership in delivering world-class AI for unparalleled contract and document intelligence across the business

SAN FRANCISCO, Oct. 1, 2024 /PRNewswire/ -- Evisort, the leader in AI-native contract intelligence and contract lifecycle management (CLM), today became the first contract AI provider – and one of the first companies in the world – to achieve an International Organization for Standardization (ISO) 42001 accredited certification for responsible development and use of artificial intelligence. This distinction underscores Evisort's commitment to providing legal and business teams with reliable, scalable, customizable, and cost-effective AI solutions for analyzing contracts and transactional documents.

The ISO/IEC 42001 certification sets standards for the ethical and responsible development and deployment of an AI management system (AIMS). It ensures AI technologies are designed and applied in a manner that is transparent, accountable, and aligned with ethical principles, thereby fostering trust and mitigating potential risks associated with AI applications, like bias.

"With AI innovation happening at breakneck speed, enterprises need the peace of mind that their providers are developing and applying AI following industry-leading principles and standards," said Amine Anoun, Evisort Co-founder and Chief Technology Officer. "We're proud to be one of the first companies in the world to receive an accredited ISO 42001 certification and are even more proud to deliver responsible AI solutions to our customers daily."

The audit of Evisort in the role of both an AI "producer" and "provider" was led by Schellman, an ANAB-accredited certification body and leading global provider of attestation, compliance, and certification services. The audit scrutinized a wide range of aspects, including AI training methodologies and sources, data anonymization and governance, human oversight, transparency and explainability, and third-party risk management. 

"Evisort was among the first to reach out to Schellman after the publication of ISO 42001, demonstrating their strong commitment to leading AI Governance in their industry," said Danny Manimbo, Schellman Principal and AI Assessment Leader. "Their senior leadership's full support and preparedness were crucial for the success of this initiative. We were proud to partner with Evisort in pioneering this important endeavor."

Evisort had previously demonstrated its commitment to responsible, enterprise-grade information management by becoming the only AI-native CLM company to be certified for both ISO 27001 (information security) and ISO 27701 (privacy). The company has also held annual SOC 2 Type 2 examinations since 2019 and, in 2023, announced its development of the first large language model (LLM) specifically for contracts, to enhance the accuracy, scalability, and reliability of its AI-powered platform. View Evisort's ISO 42001 certificate here.

On September 17, 2024, Workday, Inc. (NASDAQ:WDAY) announced its intention to acquire Evisort.

About Evisort

Evisort's AI-native contract intelligence platform, helps premier organizations like Microsoft, Workday, McKesson, BNY Mellon, Western Union, and NetApp know everything about their contracts. With advanced, proprietary AI – including the first large language model (LLM) specifically for contracts – Evisort empowers teams to draft, manage, analyze, and optimize their agreements faster and more intelligently, enabling them to expedite deals, reduce risk and cost, and transform legal and contracting challenges into strategic business opportunities.

For more information about Evisort and its AI-powered contract lifecycle management solutions, visit www.evisort.com.

About Schellman

"Schellman" is the brand name under which Schellman & Company, LLC and Schellman Compliance, LLC provide professional services. Schellman stands as a leading global provider of attestation, compliance, and certification services. Operating under two distinct entities, Schellman & Company, LLC (a top 50 firm) and Schellman Compliance, LLC (a globally accredited compliance assessment firm which is not a licensed CPA firm). The services provided by the Schellman entities include acting as a CPA firm (Schellman & Company, LLC Florida license number AD62941) as a leading provider of SOC reports, an ISO Certification Body, a PCI Qualified Security Assessor Company, a HITRUST assessor, a FedRAMP 3PAO, being among the pioneering CMMC Authorized C3PAOs, as well as offering international certification services including TISAX and HDS.

Renowned for its professionals' expertise combined with practical experience, Schellman delivers superior client service while upholding steadfast independence. The company's approach fosters successful, long-term relationships, enabling clients to achieve multiple compliance objectives through a single trusted third-party assessor. For further information about the services provided, please visit schellman.com.

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SOURCE Evisort